* The OCWD Administration/Finance Issues Committee meeting is noticed as a joint meeting with the Board of Directors for the purpose of strict compliance with the Brown Act. Items recommended for approval at this meeting will be placed on the Agenda for approval at the February 20 Board meeting.

ROLL CALL

VISITOR PARTICIPATION
Members of the audience wishing to address the Committee/Board on items of interest to the public are requested to identify themselves. If the matter on which they wish to comment is an Agenda item, the visitor will be called on when that matter comes up for consideration.

ITEMS RECEIVED TOO LATE TO BE AGENDIZED

RECOMMENDATION: Determine need to take action on item(s) which arose subsequent to posting of the Agenda (Adoption of this recommendation requires two thirds vote of the Board/Committee, or, if less than two-thirds of the members are present, a unanimous vote)

CONSENT CALENDAR (ITEMS NO. 1-3)

1. MINUTES OF ADMINISTRATION/FINANCE ISSUES COMMITTEE MEETING HELD JANUARY 10, 2008

RECOMMENDATION: Approve minutes as presented

2. MONTHLY CASH CONTROL REPORT

RECOMMENDATION: Agendize for February 20 Board meeting: Receive and file Summary Cash and Cash Equivalents Control Report dated January 31, 2008

3. TRAVEL/EXPENSE REPORT – 2ND QUARTER OF FY 2007-2008

RECOMMENDATION: Agendize for February 20 Board meeting: Receive and file Travel/Expense Report for the period of October 1 through December 31, 2007

END OF CONSENT CALENDAR

MATTERS FOR CONSIDERATION

4. LOCAL AGENCY FORMATION COMMISSION (LAFCO) SPHERE OF INFLUENCE LINE UPDATE

RECOMMENDATION: Agendize for February 20 Board meeting: Provide comments and direction to staff

5. INVESTMENT PORTFOLIO HOLDINGS REPORT

RECOMMENDATION: Agendize for February 20 Board meeting: Receive and file Investment Portfolio Holdings Report dated January 31, 2008

6. PLAN OF FINANCE UPDATE

RECOMMENDATION: Agendize for February 20 Board meeting

1. Approve the refunding / restructure of the existing variable rate debt to maintain level debt service in future years; and

2. Direct staff and bond counsel to prepare and process the necessary legal documents to execute the refunding/restructure

7. FISCAL YEAR 2007-08 BUDGET TO ACTUAL REPORT [JULY – DECEMBER 2007]

RECOMMENDATION: Agendize for February 20 Board meeting: Receive and file FY 2007-08 Budget to Actual Report for the period of July 1 to December 31, 2007

INFORMATIONAL ITEMS

8. FISCAL YEAR 2007-08 SEMIANNUAL REPORT ON WATER PURCHASE BUDGET

9. SEMI-ANNUAL SALARY POLICY REPORT

10. SEMI-ANNUAL REPORT OF LEGAL FEES PAID IN FISCAL YEAR 2007-08

11. PARKING UPDATE


DETERMINATION OF ADDITIONAL ITEMS TO BE PLACED ON CONSENT CALENDAR FOR FEBRUARY 20 BOARD MEETING

DIRECTORS' ANNOUNCEMENTS/REPORTS

GENERAL MANAGER’S ANNOUNCEMENTS/REPORTS

ADJOURNMENT

Accommodations for the Disabled.  Any person may make a request for a disability-related modification or accommodation needed for that person to be able to participate in the public meeting by telephoning Janice Durant, OCWD District Secretary at 714/378-3233, or Maribeth Goldsby, MWDOC Board Secretary, at (714) 963-3058, or writing to Orange County Water District at P.O. Box 8300, Fountain Valley, CA, 92728, or Municipal Water District of Orange County at P.O. Box 20895, Fountain Valley, CA 92728. Requests must specify the nature of the disability and the type of accommodation requested. A telephone number or other contact information should be included so that District staff may discuss appropriate arrangements. Persons requesting a disability-related accommodation should make the request with adequate time before the meeting for the District to provide the requested accommodation.

In accordance with the requirements of California Government Code Section 54954.2, this agenda has been posted in the main lobby of the Orange County Water District, 10500 Ellis Avenue, Fountain Valley, CA not less than 72 hours prior to the meeting date and time above. All written materials relating to each agenda item are available for public inspection in the office of the Board Secretaries. Backup material for the Agenda is available at the District offices for public review and can be viewed online at the District's website: www.ocwd.com

Pursuant to the Americans with Disabilities Act, persons with a disability who require a disability-related modification or accommodation in order to participate in a meeting, including auxiliary aids or services, may request such modification or accommodation from the District Secretary at (714) 378-3233, by email at jdurant@ocwd.com by fax at (714) 378-3373. Notification 24 hours prior to the meeting will enable District staff to make reasonable arrangements to assure accessibility to the meeting.

Notification 24 hours prior to the meeting will enable the District to make reasonable arrangements to assure accessibility to the meeting.

ADMINISTRATION AND FINANCE ISSUES COMMITTEE MEMBERS

Kathryn Barr, Chair
Roger Yoh, Vice Chair
Claudia Alvarez
Philip Anthony
Shawn Nelson

Alternates

Wes Bannister
Denis Bilodeau
Jan Debay
Irv Pickler
Stephen Sheldon